Thurston Springer Miller Herd & Titak Inc. Purchases New Position in PBF Energy Inc. (NYSE:PBF)

Thurston Springer Miller Herd & Titak Inc. acquired a new stake in PBF Energy Inc. (NYSE:PBF) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,562 shares of the oil and gas company’s stock, valued at approximately $68,000.

Other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its position in shares of PBF Energy by 968.8% in the 4th quarter. Fortitude Family Office LLC now owns 1,165 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,056 shares during the period. Quarry LP purchased a new stake in PBF Energy in the third quarter valued at approximately $48,000. Harbor Capital Advisors Inc. acquired a new stake in shares of PBF Energy in the third quarter valued at approximately $59,000. Blue Trust Inc. boosted its holdings in shares of PBF Energy by 1,291.1% in the third quarter. Blue Trust Inc. now owns 2,184 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 2,027 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of PBF Energy by 27.9% during the third quarter. Farther Finance Advisors LLC now owns 2,626 shares of the oil and gas company’s stock worth $81,000 after acquiring an additional 573 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

NYSE:PBF opened at $31.03 on Friday. The firm’s fifty day simple moving average is $29.16 and its 200-day simple moving average is $32.86. The company has a quick ratio of 0.65, a current ratio of 1.34 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.57 billion, a PE ratio of -11.98 and a beta of 1.61. PBF Energy Inc. has a fifty-two week low of $24.21 and a fifty-two week high of $62.88.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, October 31st. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.09). PBF Energy had a negative return on equity of 2.84% and a negative net margin of 0.84%. The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the company posted $6.61 earnings per share. The company’s quarterly revenue was down 21.9% compared to the same quarter last year. Analysts expect that PBF Energy Inc. will post -2.95 earnings per share for the current fiscal year.

PBF Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This is a boost from PBF Energy’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.54%. PBF Energy’s payout ratio is currently -42.47%.

Insiders Place Their Bets

In other PBF Energy news, insider Control Empresarial De Capital bought 100,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was bought at an average price of $28.62 per share, for a total transaction of $2,862,000.00. Following the completion of the transaction, the insider now owns 28,984,998 shares in the company, valued at approximately $829,550,642.76. The trade was a 0.35 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have bought 2,469,600 shares of company stock worth $73,932,721. 6.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PBF shares. Wells Fargo & Company cut shares of PBF Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $39.00 to $34.00 in a research note on Monday, December 9th. TD Cowen lowered PBF Energy from a “hold” rating to a “sell” rating and lowered their price target for the stock from $27.00 to $20.00 in a report on Friday, December 20th. Mizuho downgraded PBF Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $33.00 to $31.00 in a research note on Monday, December 16th. Piper Sandler downgraded PBF Energy from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $25.00 in a research note on Friday, September 20th. Finally, Scotiabank cut their price target on PBF Energy from $45.00 to $31.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.00.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.